North Carolinians, who sometimes call their state "a valley of humiliation between two mountains of conceit," last week had something to crow about. The Civil Aeronautics Board, which ordinarily renews the certificates of "feeder" airlines for only three years, broke precedent by issuing a seven-year renewal to North Carolina's tiny but fast-growing Piedmont Airlines. In addition, CAB awarded Piedmont four new routes, and gave Piedmont a public pat on the back for its "outstanding record."
In twelve years, Piedmont's founder and president, Thomas H. (for Henry) Davis, 32, has stretched a $14,000 investment...
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